Analysts at UBS Group increased their price target for Analog Devices (NASDAQ:ADI) to $275.00

Analog Devices (NASDAQ:ADI – Free Report) in a research report released on Thursday, Benzinga reports, UBS Group increased their price target from $225.00 to $275.00. They currently have a buy rating on the semiconductor company’s stock.

Several other brokerages have also recently commented on ADI. Morgan Stanley maintained an overperform rating and set a $212.00 price target on shares of Analog Devices in a research note on Thursday, April 11th. Barclays raised their price target on shares of Analog Devices from $185.00 to $210.00 and gave the company the same rating in a research note on Monday. Sanford C. Bernstein raised their price target on shares of Analog Devices from $200.00 to $220.00 and gave the company a market perform rating in a research note on Thursday. Truist Financial raised their price target on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Oppenheimer increased their price target on shares of Analog Devices from $215.00 to $245.00 and gave the company an outperform rating in a research note on Thursday, May 16th. Seven analysts have rated the company with a hold rating and eighteen analysts have rated the company with a buy rating. The stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.75, according to MarketBeat data.

Read our latest analysis for ADI

Trading in analog devices decreases by 2.3%

Shares of Analog Devices opened at $234.56 on Thursday. The company’s fifty-day simple moving average is $199.92 and its 200-day simple moving average is $193.03. The stock has a market capitalization of $116.32 billion, a PE ratio of 41.96, a P/E/G ratio of 5.44 and a beta ratio of 1.14. Analog Devices has a 1-year low of $154.99 and a 1-year high of $241.88. The company has a debt to equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, which topped the consensus estimate of $1.26 by $0.14. The company’s revenue for the quarter was $2.16 billion, compared to analyst expectations of $2.11 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenues decreased by 33.8% compared to the same quarter last year. During the same quarter last year, the company saw an EPS of $2.83. As a group, equities analysts anticipate that Analog Devices will post 5.85 earnings per share for the current year.

Analog Devices announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Shareholders of record will receive a dividend of $0.92 on Tuesday, June 4. The ex-dividend date of this dividend is Tuesday, June 4. This represents a dividend of $3.68 on an annualized basis and a dividend yield of 1.57%. Analog Devices’ dividend payout ratio (DPR) is currently 65.83%.

Confidential transactions in analog devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction amount of $1,970,600.00. Following the transaction, the CEO now directly owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The sale was disclosed in a legal filing with the Securities and Exchange Commission, available on the SEC’s website. In related news, VP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction amount of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a legal filing with the Securities and Exchange Commission, available on the SEC’s website. Additionally, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction amount of $1,970,600.00. Following the transaction, the CEO now owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The announcement of this sale can be found here. Over the last three months, insiders sold a total of 24,707 shares of company stock worth $4,874,613. Insiders own 0.31% of the company’s shares.

Hedge funds weigh on analog devices

Several hedge funds have recently increased or decreased their stakes in the company. Amarillo National Bank increased its holdings in Analog Devices by 3.7% during the fourth quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 54 shares in the last quarter. Mcdonald Partners LLC increased its holdings in Analog Devices by 0.7% during the first quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock valued at $1,497,000 after acquiring an additional 54 shares in the last quarter. Keystone Financial Services increased its holdings in Analog Devices by 1.8% during the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after acquiring an additional 55 shares in the last quarter. Ancora Advisors LLC increased its holdings in Analog Devices by 2.1% during the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock valued at $480,000 after acquiring an additional 57 shares in the last quarter. Finally, Legacy Advisors LLC increased its holdings in Analog Devices by 2.3% in the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after acquiring an additional 59 shares in the last quarter. Currently, 86.81% of the shares are in the hands of institutional investors.

About analog devices

(Get the free report)

Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

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